Spot News

- Climate-change scientists warn of looming disaster
Studies say little chance planned emission cuts can curb global warming (FT)

- Shell follows BP with 58% first-quarter fall
Chief executive says he will cut jobs this year (FT)

- Shell chief ponders whether or not to invest
Jeroen van der Veer discusses his final challenge (FT)

- Deals to bring expansion of UK nuclear energy
RWE and Eon buy sites to build nuclear reactors (FT)

- Australia environmental body conditionally OKs Chevron’s Gorgon project
Approval clears key legal hurdle for expanding LNG facility (Reuters)

- Gas ‘a big winner’ is US cap and trade passes: Caruso
Former government official says coal will suffer and nuclear growth will be small (Platts)

- EIA analysis: US gasoline stocks drop on lower inputs, imports
Weekly stats show refiners throttled back output while imports fell (Platts)

- CNOOC’s revenue falls 42% as slower growth in China hits demand
Offshore oil explorer derives 93% of sales from China (Bloomberg)

- Abu Dhabi’s Mubadala appoints former BP executive
Steve Peacock to head oil and gas division (FT)

- Lex: Royal Dutch Shell
Taking shelter in its balance sheet (FT)